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The Cayman Islands has traditionally been the domicile of choice for private investment funds managed by Asian managers. It is common for a Cayman Islands investment fund to appoint a manager incorporated in the Cayman Islands (Cayman Manager), which in turn delegates investment management to a Hong Kong type 9 (asset management) licenced fund manager. The Cayman Islands has recently enacted a series of important changes which impact Cayman Managers. If you have a Cayman Manager in your group, you should take steps to ensure compliance with these requirements.
For existing Excluded Persons, re-registration with CIMA will be required by 15 January 2020. |
The filing deadline is on or before 15 August 2019.
The applicability of the economic substance requirement will commence from the date a Cayman Manager registers or re-registers as a “Registered Person” with CIMA.
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